PROJ6000 Principles Of Project Management enables the students to gain knowledge about the principles of project management. Throughout this course, the students would be able to learn the fundamental principles of project management and understand the skills needed for project managers so that they can complete their projects on budget and on time. The students would be able to learn the basics of project management, exploring the importance of project management for the successful completion of the project. The students will be provided with the opportunity to understand the life cycle of project management, which includes initiation, planning, execution, and closure stages.
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Unit details of this course include the following:
Unit code: PROJ6000
Study Level: Postgraduate
Location: Laureate International Universities, Australia
Throughout the course, the fundamental principles of project management and understanding the skills required for completing the project on time and on budget. This course will focus on the three biggest challenges which are essential to understand for the project managers such as completing projects on time, communicating, and managing costs.
The PMBOK knowledge areas and the process groups offer horizontal solutions and vertical to best practices in project management. Some of the basic management techniques that have been discussed in this course are given below:
Project Integration Management – This involves the generation of essential knowledge for executing and monitoring the project with the earned value analysis, generation of status reports, and ensuring the delivery of the project on time.
Project Scope Management – This focuses on defining the boundaries for the project by outlining the scope of challenges or issues that can be addressed, resolved, and executed. The project scope is defined with the efficiency in the allocation of resources and the completion of the project on time. The scope statement of the project reflects the activities that are needed to be undertaken for a particular project with the work breakdown structure and the tabular representation of the project tasks.
Project Schedule Management – In this segment, the project manager develops a plan or schedule with the help of scope details and contains information and under which department. It contains a sequential breakdown of the activities from the beginning to the end, usually in an excel sheet or a network diagram, which includes the delivery timelines.
Project Cost Management – This segment involves the budgeting of the project with rigorous cost considerations and the criteria for changes that are inclusive of uncertainties. The cost must be estimated on the basis of available resources on equipment, labor and materials, and all other resources required for the completion of tasks.
Project Quality Management – Quality control helps in determining the input factors such as resources, time, and cost in management. The demand for better quality involves greater expenses on the equipment and labor for satisfying the expectations of the customers.
Project Resource Management - This segment of the management procedure emphasizes on roles and responsibilities required by the project as part of a Human Resource Management Plan. Allocations of resources are based on availability and cost considerations. Other key factors are the development of the team environment to ensure fruitful interaction between team members and better team cohesiveness in view of maximization of output.
Project Communication Management – Communication is the strength of effective performance for any kind of project. The improved communication enhances customer relationships, reduces time lags that are created on project gaps. The progress updates and investor circulars are used for maintaining the standards of communication in entities and keeping the employees updated on unexpected delays or changes.
Project Risk Management - Risk management involves the assessment of both quantitative and qualitative risks associated with the management of the project. The risk mitigation strategies involve the development of well-drafted strategies that are regularly monitored and updated, according to the changes in the situations. The companies always focus on building strategies that are responsive in mitigating the risks associated with the business operations or employees.
Project Procurement Management – Project procurement management involves the hiring of contractors with the ability to control the quality and schedule of the projects. The process of procurement management involves issuing statements of TOR, work, choosing a vendor, and requesting for proposal.
Project Stakeholder Management – The concerns of the stakeholders are addressed with the priority and project execution plans that are built so that they can be dealt with effectively. The success of any project is dependent on the ability of the organization to satisfy the expectations of the clients or respective stakeholders.
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The overall weightage of the course in the semester is 25% will be required in completing the semester course.
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